Fixed Ops Magazine - 2022 Vol19 05 - 58

PARTS DEPARTMENT BY BRIAN SERVATIUS
USING
LESSONS
FROM COVID
to Prepare for a Possible Recession
R
ecession talk is everywhere. Turn on the television,
tune into your favorite podcast, open
a magazine, or go on social media. Everyone
is discussing the possibility of a recession, debating
whether we are currently in one, and strategizing how
to prepare.
If a recession hits, it won't be the first economic challenge
dealers have faced in recent years.
ECONOMIC CHALLENGES FACED BY THE
AUTOMOTIVE INDUSTRY
In the past, the automotive industry
was the largest industry affected
during the Great Recession (2007-
2011). And then it happened again,
when COVID hit followed by the disruption
in the supply chain. Some argue
that now, because of the current
difficulties which have led to low inventories
and low new vehicle sales,
a recession may not affect the automotive industry as
severely as it has in the past.
Whatever the future ultimately holds, one thing seems
clear: whether or not we officially enter a recession, and
if we do - whatever the impact it may or may not have
on the automotive industry, dealers shouldn't expect
things to return to " normal " for a while.
LESSONS LEARNED IN 2020
dealers shouldn't
expect things to
Over the past two years, many dealers have found
new ways to generate revenue and keep their business
growing. One lesson learned is that the parts department
can become a huge asset to
dealerships when new and used vehicle
sales are down.
return to " normal "
for a while
58
Since 2020, the spread of COVID led
to a drastic decline in new car sales.
According to CleanTechnica, sales in
Q4 2021 were down 23% compared
to Q4 2019. Going forward, Cox

Fixed Ops Magazine - 2022 Vol19 05

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